Irex Rips Pa. High Court's Post-Merger Remedies Ruling

Law360, New York (August 8, 2012, 5:29 PM EDT) -- Contracting services company Irex Corp. filed a petition for reargument with the Pennsylvania Supreme Court on Wednesday, saying the court misread a provision of state law when it ruled in July to allow minority shareholders' post-merger challenges to move forward in instances of fraud and unfairness.

Meanwhile, Mitchell Partners LP, a minority shareholder in Irex that sued to stop Irex's 2006 merger with North Lime Holdings Corp., asked the Third Circuit on Tuesday to remand its challenge to district court for adjudication on the merits....